Economic Growth and Development of Space in Singapore (2004)
- Its development over the years
- It economic policy
The world in which we live is constantly changing, whether it is the movement of people from place to place, activities or, more virtual capital. These movements are combined with changes in the environment in which they operate. This combination led governments to adapt as things kept changing. Here, we study the case of Singapore which has had, since its independence in 1965, a spectacular economic growth. Growth, so that the country is able to support the dynamic that makes Singapore one of the most prosperous countries in the world, whereas in 1965, its gross national product (GNP) was lower than the Philippines.
In this study, we will first develop the economy of Singapore and explain the reasons for this success. Then we will show how the government was able to build and develop its territory. All this in order to show the synergy that exists between these two phenomena. We will come to the conclusion that one goes with the other: economic growth has enabled the development by the income it generates, but at the same time, spatial planning can generate more growth.
Today, Singapore is classified as emerging. This is because of the industrial economies which are in in transition, that is to say, they highlight several comparative advantages that provide the bulk of growth. These savings are in a consolidation phase and open to foreign investors. However, given this definition and the current economic situation in Singapore, this country could easily fall within the category of developed countries. Indeed, this new industrialized country is experiencing a very dynamic economy with very good indicators: Per capita GDP of almost 20,000 euros, a growth rate of real GDP of 8.1%, an inflation rate of 1.7% and an unemployment rate of 3.4% (2004). These figures describe a country in "good health" and even better than some so-called ?developed? countries.
This exceptional situation is justified by several explanations. Originally, the orientation of trade policy towards a strategy of industrialization by exporting "has propelled the country's economic growth?.
[...] The port complex in Singapore is one of the world's largest, the second and first since 2005 in terms of container traffic. Located at the entrance to the Strait of Malacca, Singapore is positioning itself in a privileged passageway in Asia Pacific, it turns out to be the crossroads of Asia. Given its involvement in international trade, the State had to equip its territory the most modern infrastructures which are organized and efficient manner. The country is at the heart of a network of 200 routes with connections to 600 ports in 123 countries. [...]
[...] With over a third of the FDI stock in this country, the EU remains by far the largest investor in Singapore ( 39.0 billion euros or of the stock by the Singapore Department of Statistics) before the United States ( 17.4 billion euros, or of the stock) and Japan ( 15.2 billion euros or of the stock). ASEAN represents less than of the stock of FDI amounting to 4.2 billion euros, of which Malaysia is the principal holder ( 2.4 billion euros). [...]